China Oriental Group Company Limited Stock Forecast
China Oriental Group Company Limited stock price down 2.80% on Friday
(Updated on Apr 19, 2024)
The China Oriental Group Company Limited stock price fell by -2.80% on the last day (Friday, 19th Apr 2024) from HK$1.07 to HK$1.04. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 3.92% from a day low at HK$1.02 to a day high of HK$1.06. The price has fallen in 5 of the last 10 days and is down by -8.77% for this period. Volume has increased on the last day by 622 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately HK$1.46 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$1.02 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -6.32% during the next 3 months and, with a 90% probability hold a price between HK$0.96 and HK$1.09 at the end of this 3-month period.
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0581.HK Signals & Forecast
There are few to no technical positive signals at the moment. The China Oriental Group Company Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$1.11 and HK$1.16. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -11.11%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). China Oriental Group Company Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for China Oriental Group Company Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0400 between high and low, or 3.92%. For the last week, the stock has had daily average volatility of 3.73%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0581.HK) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect China Oriental Group Company Limited to open at HK$1.04, and during the day (based on 14 day Average True Range), to move between HK$1.00 and HK$1.08, which gives a possible trading interval of +/-HK$0.0438 (+/-4.21%) up or down from last closing price. If China Oriental Group Company Limited takes out the full calculated possible swing range there will be an estimated 8.42% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$1.15, some HK$0.110 (10.58%) from the current price of HK$1.04, our system finds the risk reward not very attractive.
Is China Oriental Group Company Limited stock A Buy?
China Oriental Group Company Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.950 Sell Candidate Unchanged
Predicted Opening Price for China Oriental Group Company Limited of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| HK$1.04 ( 0%) | HK$1.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0581.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.08 | 3.85 % | |
| R2 | 1.06 | 2.38 % | ||
| R1 | 1.06 | 1.47 % | ||
| Current price: | 1.04 | |||
| Support | S1 | 1.02 | -1.47 % | |
| S2 | 1.02 | -2.38 % | ||
| S3 | 1.00 | -3.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.20 | 15.38 % | |
| R2 | 1.18 | 13.46 % | ||
| R1 | 1.15 | 10.58 % | ||
| Current price | 1.04 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
0581 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 11, 2024 | Jul 11, 2024 | Aug 20, 2024 | HK$0.0500 | 4.81% |
| 2 | Jun 15, 2023 | Jun 15, 2023 | Jun 15, 2023 | HK$0.0300 | 2.86% |
| 3 | Sep 15, 2022 | Sep 15, 2022 | Sep 15, 2022 | HK$0.0700 | 5.11% |
| 4 | Sep 08, 2022 | Sep 08, 2022 | Sep 08, 2022 | HK$0.0700 | 4.86% |
| 5 | Jun 13, 2022 | Jun 13, 2022 | Jun 13, 2022 | HK$0.0300 | 1.49% |
FAQ
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